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Financial News: Italy's Retail Sales Rebound In February

Italy's Retail Sales Rebound In February

04/11/2018 - 05:59:00 (RTTNews)

(RTTNews) - Italy's retail sales rebounded in February driven by both food and non-food products turnover, the statistical office Istat reported Wednesday.

Retail sales grew 0.4 percent month-on-month, in contrast to a 0.5 percent drop in January. Sales were expected to gain 0.3 percent.

The monthly growth in sales value of food products doubled to 0.4 percent from 0.2 percent.

At the same time, value of non-food product sales recovered in February, as it climbed 0.3 percent after easing 0.9 percent a month ago.

On a yearly basis, retail sales decreased unexpectedly by 0.6 percent after easing 0.7 percent. This was the third consecutive decline in sales value. Economists had forecast a 0.6 percent rise.

In volume terms, retail sales grew 0.9 percent on month, while it remained steady annually in February.

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